In November 2024, the Financial Action Task Force (FATF) released guidance on National Risk Assessments (NRAs), offering practical insights for financial services organizations to enhance their Anti-Money Laundering (AML) frameworks. Key sections include:
NRA Preparation and Setup: This section outlines the prerequisites for a successful NRA, emphasizing political commitment, an inclusive mechanism, clear objective setting, and the collection of relevant data.
Assessing and Understanding Money Laundering Risks: It provides a flexible yet structured approach to analyzing threats, vulnerabilities, and risks, enabling countries to apply a methodology tailored to their specific capacities, risks, and contexts.
Post-NRA Actions: Recommendations here focus on aligning mitigation measures with identified risks, communicating findings, and refining the NRA process for continuous improvement.
